Cryptocurrencies for the masses

Last week I talked about cryptocurrency becoming an inevitable asset. This week I want to explain some of the recent developments which show evidence for this to be true.

PayPal recently adopted cryptocurrency on their platform, allowing users to purchase several main cryptocurrencies and make payments with them. Next week Venmo will do the same. That means 70 million monthly active users will soon have access to top cryptocurrencies. A study found that of these 70 million Venmo users, about 30 million are not yet exposed to cryptocurrency.

The reason why PayPal and Venmo’s recent developments are so meaningful is because traditionally, setting up crypto wallets was never easy. Adding crypto to platforms which already have millions of users, enables an abundance of people access to the crypto market. Of course, investors think this will continue to be bullish for the field.

Venmo took a step further than simply adding the coins to the app. They provide set-up tutorials and lots of information about cryptocurrency for each user once the update is completed. The service also has posts explaining the basics of blockchain, as well as how cryptocurrencies differ from other normal currencies like the dollar.

The growing adoption of cryptocurrencies throughout industries is amazing and is a sign that crypto is here to last. Venmo is not exactly early to the party, other major companies have accepted cryptocurrencies for some time now. Major companies include Microsoft, Tesla, Starbucks, HomeDepot, BurgerKing and more. Despite the volatility problem that comes with crypto, the fact that these large companies are endorsing its use is very good news for the future of crypto. Once again, cryptocurrency is definitely here to stay…